Real Estate: North American investors lead business in Portugal

During 2022, the American market, through international funds, led real estate transactions in the country, according to recently released data

 

International funds dominated investment in the Portuguese real estate market in 2022, representing over 85% of the total in recent years. The data were recently advanced by Nuno Nunes, responsible for capital markets at the CBRE consultancy. In his own voice, “it is estimated that in recent years investment through funds has represented more than 85% of the market”.

Despite these estimates, specialists in the field warn of the difficulty in quantifying or classifying this type of investment, insofar as some investors have complex corporate structures or, in other words, that obey different procedures than what happens in Portugal. Thus, these companies can also invest in the real estate market. Difficulties in quantifying the number of North American investors in the real estate market in Portugal are also since there is still no public data on these matters.

Despite some constraints, the data indicate that in 2022, the United States of America – through funds – invested a billion euros in the national market, thus becoming the largest foreign investors in Portugal.

It should be recalled that the biggest transaction ever carried out in the Portuguese real estate market through American capital was the Crow Project – worth 800 million euros and carried out by the American fund Davidson Kempner.

During the month of March, the Secretary of State for Internationalization, Bernardo Ivo Cruz, after a visit to the United States of America, highlighted the interest that investors – from Texas – had in Portugal. At the same time, the United States of America remains in the ranking of nationalities or countries to which the most golden visas have been granted in recent months.

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